LOS ANGELES--(BUSINESS WIRE)--BRAVADA International Ltd (https://www.Bravada.com) (Pink Sheets: BRAV) announced today that the Company is amending the date for its reverse split pending additional documents and completion of corporate matters requested by FINRA. As such, if the reverse stock split is completed, the Company’s shareholders will receive one (1) new share for every fifty (50) shares of BRAVADA International Ltd common stock held prior to the effective date. The Company shall provide a date by press release when one is confirmed.
The Company would like to be clear regarding future share issuances and related corporate matters. BRAVADA International is not contemplating, in discussions with or has any plans to issues shares to raise capital, nor is it contemplating any acquisition(s) or any other corporate action except those which are already disclosed as part of the reverse split. The Company’s Founder and CEO, Danny Alex, believes that value of the Company’s shares is below what he feels is fair value based on the Company’s revenue and corporate assets and has no plans to use the Company’s stock as a currency for capital or acquisitions.
Over the last 13 years, Mr. Alex has accepted the majority of his pay in shares of the Company in addition to investing capital. In 2016, many shareholders suggested that BRAVADA International was not going to survive as a going concern and shareholders displayed no confidence selling BRAV shares down to as low as $0.0002. Despite this, Mr. Alex remained confident and continued to accept shares of the Company as the majority of his pay with no guarantee of ever realizing a return. He believed strongly in his ability to develop and grow BRAVADA International into a valuable company. Four years later, the Company finds itself in an advantageous position.
“I have worked 16 hours a day, 7 days per week for the last 13 years building this company and the last thing that I intend to do is undervalue the enormous amount of time, effort and energy I have placed into building BRAVADA,” replied Danny Alex, CEO of BRAVADA International. “Every Company website, successful and unsuccessful, has been by my design from creation and concept to the CSS / HTML and SEO. Shareholders should not underestimate my ferocity and conviction in BRAVADA and the value of its shares. Anyone who has placed 25% of their life-span into a project as I have with BRAVADA, understands the emotional stake one can have in a Company and I have no plans to undervalue this Company.”
Mr. Alex continued, “BRAVADA International is in an excellent position with strong free cashflow from operations and we expect to have almost $200,000 of cash on hand at the end of March 2021. We have managed to grow our assets and make investments into 3 new websites, USAFashion.com, WomensFashionWholesale.com and WorldofPets.com. The Company’s expenses are streamlined with virtually no debt and an amazing group of employees who are committed to this Company. We are not issuing shares to raise capital, we are not acquiring any companies, we are not listing ourselves on NASDAQ; we are focused 100% on building this company.”
BRAVADA International is an internet and media company that owns and curates online properties through a proprietary methodology of creating, developing and operating retail and wholesale websites that provide an exciting blend of consumer level and B2B products and services.
Certain matters discussed in this announcement contain statements, estimates and projections about the growth of BRAVADA International’s business, corporate growth, and related business strategy. Such statements may constitute forward-looking statements within the meaning of the federal securities laws. Factors or events that could cause actual results to differ may emerge from time-to-time. BRAVADA International undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. The recipient of this information is cautioned not to place undue reliance on forward-looking statements.